How does that compare with some other nations? Well, Greece\’s is north of 100%, and Spain and Portugal are close to that level, according to data compiled by Capital Economics. Italy, the U.K. and Cyprus also have a larger proportion of net external liabilities.

\”U.S. net external liabilities are still far below the levels that might be expected to trigger a currency or wider capital markets crisis,\” said Paul Ashworth, chief U.S. economist at Capital Economics.

Plus, the figure should decline in the near term, since foreigners are more likely to hold Treasurys and other bonds. Should the global economy improve, the equities that Americans are more likely to hold will appreciate in value.

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